CommScope Target of Unusually Large Options Trading (NASDAQ:COMM)

CommScope Holding Company, Inc. (NASDAQ:COMM) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 35,994 put options on the stock. This represents an increase of approximately 1,202% compared to the average volume of 2,765 put options.

CommScope Stock Up 20.3 %

Shares of CommScope stock traded up $1.00 during trading on Wednesday, reaching $5.89. The company’s stock had a trading volume of 16,717,473 shares, compared to its average volume of 4,264,779. CommScope has a 12-month low of $0.86 and a 12-month high of $7.19. The business has a 50 day moving average price of $5.26 and a 200-day moving average price of $5.26. The company has a market capitalization of $1.27 billion, a P/E ratio of -1.32, a price-to-earnings-growth ratio of 0.41 and a beta of 1.90.

CommScope (NASDAQ:COMM) last posted its quarterly earnings results on Wednesday, February 26th. The communications equipment provider reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03). CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. Research analysts predict that CommScope will post -0.24 EPS for the current fiscal year.

Institutional Trading of CommScope

A number of hedge funds have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new position in CommScope in the fourth quarter worth approximately $27,000. National Bank of Canada FI lifted its holdings in shares of CommScope by 109.1% during the third quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock valued at $33,000 after acquiring an additional 2,857 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of CommScope by 826.0% during the fourth quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider’s stock valued at $35,000 after acquiring an additional 6,030 shares during the period. Quarry LP raised its holdings in shares of CommScope by 1,005.4% in the third quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock valued at $50,000 after buying an additional 7,380 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in CommScope by 67.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider’s stock worth $52,000 after purchasing an additional 4,026 shares during the period. 88.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Morgan Stanley lowered shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a research note on Tuesday, December 17th. JPMorgan Chase & Co. upgraded shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a report on Tuesday, January 14th. Finally, Raymond James lowered CommScope from a “market perform” rating to an “underperform” rating in a research report on Monday, January 6th. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, CommScope presently has an average rating of “Hold” and a consensus price target of $3.00.

About CommScope

CommScope Holding Company, Inc provides infrastructure solutions for communications, data center, and entertainment networks worldwide. The company operates through Connectivity and Cable Solutions (CCS); Outdoor Wireless Networks (OWN); Networking, Intelligent Cellular and Security Solutions (NICS), and Access Network Solutions (ANS) segments.